Ok, the point is that most of us have to get a mortgage to afford the house we want. In order to buy a house at the auction, you need the cash upfront. patientrenter, this isn’t a “mindset” problem…I don’t have ALL the cash, even though the bank has pre-approved me for a mortgage. Do YOU have all cash for the house you want to buy? Or are you, too, going to get a mortgage?
I would need to bridge the gap for however long (hopefully a couple days) between the auction and funding of the mortgage.
